Thailand Seeking to Shutdown Facebook over Crypto Scam Ads
The Ministry of Digital Economy and Society [MDES] of Thailand is seeking a court shutdown order against Facebook owing to crypto and investment scam ads showcased on its platform. In the official statement, the Ministry pointed out that around 200,000 people had been deceived by scam ads and added,
“Nowadays, cyber crooks have different tactics to fool and transfer money from accounts.”
Also Read: Stellar Correlation With XRP Tightens: 40% Bets ‘Bullish‘
DES will likely send shutdown order by end of August
With new mechanisms to adjust continuously, fraudsters trick users to trade digital coins and foreign currency trading through applications or websites. In fact, they also lure users to invest in crypto coins, high-yield lending companies, gold stocks, auctions, shares, etc. Furthermore, the ministry pointed out that online scammers often spoof profiles and use celebrities and financial figures to increase credibility. They approach victims by disguising themselves in online social groups of people interested in investing, with promises of providing up to 30% daily returns.
The MDES has sent a letter requesting Meta [formerly Facebook] to take action and resolve the issue. The ministry is gathering more evidence against the 5,301 scam ads. At the end of the month, it will ask the court to shut down Facebook within seven days.
Also Read: Friend.tech Earns $1.42 Million Fee: Beats Bitcoin, MetaMask, Solana
Chaiwut Thanakmanusorn, Minister of Digital Economy and Society said,
“DES is in the process of compiling evidence from offenders on the Facebook platform to send the court to close Facebook by the end of this month and ask the court to order the closure of the Facebook region within 7 days by Facebook’s offense.”
The minister asserted that if Facebook wants to do business in Thailand, it must show responsibility to Thai society.
Also Read: Ethereum is Down 30% Against Bitcoin As Vitalik Buterin Moves 600 ETH
Read More
Thailand Seeking to Shutdown Facebook over Crypto Scam Ads
The Ministry of Digital Economy and Society [MDES] of Thailand is seeking a court shutdown order against Facebook owing to crypto and investment scam ads showcased on its platform. In the official statement, the Ministry pointed out that around 200,000 people had been deceived by scam ads and added,
“Nowadays, cyber crooks have different tactics to fool and transfer money from accounts.”
Also Read: Stellar Correlation With XRP Tightens: 40% Bets ‘Bullish‘
DES will likely send shutdown order by end of August
With new mechanisms to adjust continuously, fraudsters trick users to trade digital coins and foreign currency trading through applications or websites. In fact, they also lure users to invest in crypto coins, high-yield lending companies, gold stocks, auctions, shares, etc. Furthermore, the ministry pointed out that online scammers often spoof profiles and use celebrities and financial figures to increase credibility. They approach victims by disguising themselves in online social groups of people interested in investing, with promises of providing up to 30% daily returns.
The MDES has sent a letter requesting Meta [formerly Facebook] to take action and resolve the issue. The ministry is gathering more evidence against the 5,301 scam ads. At the end of the month, it will ask the court to shut down Facebook within seven days.
Also Read: Friend.tech Earns $1.42 Million Fee: Beats Bitcoin, MetaMask, Solana
Chaiwut Thanakmanusorn, Minister of Digital Economy and Society said,
“DES is in the process of compiling evidence from offenders on the Facebook platform to send the court to close Facebook by the end of this month and ask the court to order the closure of the Facebook region within 7 days by Facebook’s offense.”
The minister asserted that if Facebook wants to do business in Thailand, it must show responsibility to Thai society.
Also Read: Ethereum is Down 30% Against Bitcoin As Vitalik Buterin Moves 600 ETH
Read More